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Del Taco Restaurants (TACO) Stock Gains on Q3 Results, Guidance

NEW YORK (TheStreet) -- Shares of Del Taco Restaurants (TACO) were surging 8.31% to $13.68 on heavy trading volume late Tuesday morning after reporting better-than-expected results for the 2016 third quarter and raising its full-year outlook.

After yesterday's market close, the Mexican-style fast food chain posted earnings of 13 cents per diluted share, topping analysts' estimates of 12 cents per share.

Revenue grew 5.7% year-over-year to $104.4 million and beat analysts' projections of $101.6 million.

Same-restaurant sales were up 6.7% system-wide, while company-operated same-restaurant sales rose 7.1%.

Analysts were looking for...